Lockheed to Cut 250 Jobs in Missile, Fire Control Business

Lockheed Martin Corp on Thursday said it plans to cut 250 jobs in its Missiles and Fire Control business by late November as part of an overall "belt tightening" drive.

Lockheed confirmed the news, which was first announced to workers this week, in a statement. The company said the workforce reductions would include some involuntary layoffs, affecting people at various locations. The business employs about 15,000 workers.

"This action is a normal response to changes in our overall business base," the company said. "Our programs are performing well and our future outlook remains strong in Missiles and Fire Control."

Lockheed said the layoffs would affect most of its U.S. operations to some extent, except the contract it has to provide logistics support to the U.S. Special Operations Command, and a its technical services business, which is under a strategic review for a possible sale or spinoff.

Lockheed spokesman John Kent said both of those businesses had already experienced workforce reductions and did not need to cut staff further at this time.